Top 100 Bank and Thrift Merger bids Announced in the First Nine Months of 2001

Published October 23, 2001, 10:08 a.m. EDT

Updated January 02, 1970, 9:08 a.m. EST

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Top 100 Bank and Thrift Merger bids Announced in the First Nine Months of 2001

Top 100 Bank and Thrift Merger bids Announced in the First Nine Months of 2001
Ranked by price Published October 23, 2001

	Buyer	Target	Announcement date	Completed or status	Price ($000)	Price to equity (x)	Price to12 mos. net	Target's Employees	Target's Branches	Buyer's Assets	Target's Assets
1	SunTrust Banks Inc.* Atlanta	Wachovia Corp.* Winston-Salem, N.C.	14-May	Terminated	$14,866,866	2.14	17.74	21,069	832	$103,726,385	$75,606,028
2	First Union Corp.** Charlotte, N.C.	Wachovia Corp. ** Winston-Salem, N.C.	16-Apr	Aug. 31	13,506,462	1.95	16.17	21,069	832	252,949,000	75,606,028
3	Washington Mutual Inc. Seattle	Dime Bancorp New York	25-Jun	Pending	5,148,125	2.92	29.34	6,476	123	219,925,000	27,050,041
4	BNP Paribas Paris	BancWest Corp. Honolulu	6-May	Pending	2,443,867	2.13	19.07	5,281	229	NA	19,419,452
5	Royal Bank of Canada Toronto	Centura Banks Inc. Rocky Mount, N.C.	Jan. 26	5-Jun	2,314,467	2.4	23.25	3,423	245	NA	11,482,009
6	Citigroup Inc. New York	European American Bank Uniondale, N.Y.	Feb. 12	17-Jul	1,950,000	2.72	11.18	2,210	97	902,210,000	15,426,819
7	BB&T Corp. Winston-Salem, N.C.	F & M National Corp. Winchester, Va.	Jan. 24	Aug. 9	1,157,308	3.06	21.72	1,623	138	59,340,228	3,568,780
8	New York Community Bancorp Inc.** Flushing, N.Y.	Richmond County Financial Corp** New York	27-Mar	Aug. 1	782,044	2.35	19.97	549	35	4,710,785	3,213,063
9	F.N.B. Corp. Naples, Fla.	Promistar Financial Corp. Johnstown, Pa.	14-Jun	Pending	426,816	2.13	22.78	844	72	4,005,876	2,056,106
10	Banknorth Group Inc. Portland, Maine	Andover Bancorp Inc. Mass.	11-Jun	Pending	339,388	2.01	15.53	318	15	18,252,131	1,799,001
11	Marshall & Ilsley Corp. Milwaukee	National City Bancorp. Minneapolis	30-Apr	Aug. 1	249,980	1.48	13.97	267	5	26,154,545	1,203,772
12	Charter One Financial Inc. Cleveland	Alliance Bancorp Hinsdale, Ill.	Jan. 23	2-Jul	241,301	1.39	11.6	552	19	32,971,427	2,022,670
13	Bank of Montreal Toronto	First National Bancorp Inc. Joliet, Ill.	2-Mar	13-Jul	219,840	2.29	19.11	366	20	29,309,122	1,067,781
14	Fifth Third Bancorp Cincinnati	USB Inc. Milwaukee	Feb. 21	29-Jun	217,491	NA	NA	400	2	45,857,000	148,567
15	UNB Corp.** Canton, Ohio	BancFirst Ohio Corp.** Zanesville	Sept. 6	Pending	215,455	1.91	13.81	399	27	1,078,695	1,520,960
16	Associated Banc-Corp. Green Bay, Wis.	Signal Financial Corp. Mendota Heights, Minn.	Sept. 10	Pending	177,107	1.98	20.28	346	9	13,212,289	1,089,728
17	BB&T Corp. Winston-Salem, N.C.	Virginia Capital Bancshares Inc. Fredericksburg	Jan. 24	26-Jun	175,581	1.11	21.54	63	4	59,340,228	532,675
18	North Fork Bancorp. Melville, N.Y.	Commercial Bank of New York New York	Feb. 13	Pending	175,191	1.68	17.22	282	15	14,840,962	1,526,079
19	MB Financial Inc.** Chicago	MidCity Financial Corp.** Chicago	20-Apr	Pending	174,820	0.9	11.06	483	34	1,497,990	1,834,009
20	Greater Bay Bancorp Palo Alto, Calif.	SJNB Financial Corp. San Jose, Calif.	26-Jun	Pending	174,460	2.37	14.27	109	7	5,406,246	648,149
21	BankAtlantic Bancorp Inc. Fort Lauderdale, Fla.	Community Savings Bankshares Inc. N. Palm Beach, Fla.	Sept. 10	Pending	171,201	1.42	29.33	242	21	4,756,097	948,347
22	Sovereign Bancorp Inc. Philadelphia	Main Street Bancorp Inc. Reading, Pa.	July 17	Pending	171,118	1.91	43.06	516	42	34,391,100	1,604,213
23	Banknorth Group Inc. Portland, Maine	MetroWest Bank Framingham, Mass.	11-Jun	Pending	166,274	2.63	15.29	221	17	18,252,131	914,420
24	American Financial Holdings Inc. New Britain, Conn.	American Bank of Connecticut Waterbury	19-Jul	Pending	153,733	1.82	12.76	165	17	1,900,534	936,358
25	FBOP Corp. Oak Park, Ill.	Bank Plus Corp. Los Angeles	4-Jun	Pending	146,366	2.02	NA	550	30	5,637,276	2,192,604
26	NBT Bancorp Inc. Norwich, N.Y.	CNB Financial Corp. Canajoharie, N.Y.	19-Jun	Pending	137,911	2.1	20.13	337	29	2,580,657	964,364
27	BB&T Corp. Winston-Salem, N.C.	Community First Banking Co. Carrollton, Ga.	10-Jul	Pending	128,000	2.72	26.28	170	12	64,733,769	540,006
28	National Commerce Financial Corp. Memphis	SouthBanc Shares Inc. Anderson, S.C.	16-Jul	Pending	124,835	1.5	90.48	161	11	17,952,690	659,931
29	Allegiant Bancorp Inc. St. Louis	Southside Bancshares Corp. St Louis	1-May	Sept. 28	123,874	1.66	18.85	276	23	1,143,152	772,658
30	SouthTrust Corp. Birmingham, Ala.	Cenit Bancorp Inc. Norfolk, Va.	4-May	Aug. 3	121,576	2.22	19.81	274	19	45,957,237	664,815
31	Prosperity Bancshares Inc.* Houston	FVNB Corp.* Victoria, Tex.	7-May	Terminated	121,024	1.68	14.04	328	13	1,169,731	749,771
32	SouthTrust Corp. Birmingham, Ala.	Community Bankshares Inc. Richmond, Va.	29-Jun	Pending	117,844	2.76	19.48	170	13	45,957,237	406,639
33	Boston Private Financial Holdings	Borel Bank and Trust Co. San Mateo, Calif.	27-Jun	Pending	113,976	3.69	17.14	74	2	1,009,553	358,758
34	Connecticut Bancshares Inc. Manchester	First Federal S&L Assn. of East Hartford Conn.	Feb. 8	Aug. 31	109,816	1.21	14.25	204	12	1,403,311	1,121,550
35	First Virginia Banks Inc. Falls Church	James River Bankshares Inc. Suffolk, Va.	5-Mar	2-Jul	109,762	1.96	18.79	280	27	9,516,469	516,125
36	Hanmi Financial Corp. Los Angeles	California Center Bank Los Angeles	9-May	Terminated	105,793	2.18	11.58	208	5	1,069,684	475,889
37	Synovus Financial Corp. Columbus, Ga.	FABP Bancshares Inc. Pensacola, Fla.	29-Jun	Pending	100,000	3.74	21.55	71	7	15,181,807	301,355
38	Hudson River Bancorp Inc. Hudson, N.Y.	Ambanc Holding Co. Inc. Amsterdam, N.Y.	Sept. 4	Pending	99,760	1.23	25.01	218	16	1,886,366	711,095
39	International Bancshares Corp. Laredo, Tex.	National Bancshares Corp. of Texas San Antonio	July 31	Pending	97,554	1.42	16.88	265	16	5,811,952	595,307
40	Virginia Financial Corp.** Staunton	Virginia Commonwealth Financial Corp.** Culpeper, Va.	13-Jun	Pending	89,325	1.71	17.94	189	14	495,855	465,833
41	First National of Nebraska Inc. Omaha	Castle BancGroup Inc. Dekalb, Ill.	Sept. 11	Pending	82,014	1.73	13.74	216	11	9,467,446	578,963
42	United Parcel Service Inc. Atlanta	First International Bancorp Hartford, Conn.	Jan. 16	Aug. 6	78,514	1.31	13.54	222	3	NA	362,228
43	WesBanco Inc. Wheeling, W.Va.	American Bancorp. Wheeling, W.Va.	Feb. 22	Pending	74,017	1.82	15.73	196	22	2,310,137	705,216
44	MAF Bancorp Clarendon Hills, Ill.	Mid Town Bancorp Inc. Chicago	2-Jul	Pending	69,000	2.19	14.54	96	4	5,228,930	330,796
45	SouthTrust Corp. Birmingham, Ala.	Bank of Tidewater Virginia Beach, Va.	Aug. 31	Pending	68,604	3.18	20.32	174	10	46,534,992	295,451
46	United Bankshares Inc. Charleston, W.Va.	Century Bancshares Inc. Washington	14-Jun	Pending	66,620	2.52	NA	112	11	4,984,804	415,483
47	BankFinancial Corp. Olympia Fields, Ill.	Success Bancshares Inc. Lincolnshire, Ill.	21-May	Pending	65,613	1.53	31.59	163	7	1,212,610	592,123
48	Mid-State Bancshares Arroyo Grande, Calif.	Americorp Ventura, Calif.	9-Apr	Sept. 27	64,137	2.29	16.2	110	8	1,444,927	281,168
49	Umpqua Holdings Corp. Portland, Ore.	Independent Financial Network Inc. Coos Bay, Ore.	22-Jun	Pending	55,069	1.6	22.64	188	16	797,238	389,566
50	Colonial BancGroup Inc. Montgomery, Ala.	Manufacturers Bancshares Inc. Tampa	18-Jun	Pending	54,482	2.76	19.56	92	5	12,149,037	290,633
	Buyer	Target	Announcement date	Completed or status	Price ($000)	Price to equity (x)	Price to12 mos. net	Target's Employees	Target's Branches	Buyer's Assets	Target's Assets	51	Security National Servicing Corp.* Eureka, Calif.	Wilshire Financial Services Group* Portland, Ore.	4-Apr	Terminated	54,366	0.57	18.83	332	7	NA	712,774
52	Great Southern Bancorp Inc.* Springfield, Mo.	Guaranty Federal Bancshares Inc.* Springfield, Mo.	Aug. 22	Terminated	51,003	1.21	18.04	108	5	1,188,104	374,093
53	Chittenden Corp. Burlington, Vt.	Maine Bank Corp. Portland	Jan. 26	29-Apr	49,250	1.78	14.16	177	15	3,769,861	236,239
54	Regions Financial Corp. Birmingham, Ala.	Park Meridian Financial Corp. Charlotte, N.C.	27-Jun	Pending	49,030	2.01	17.84	46	3	46,143,235	283,833
55	First Banks America Inc. Clayton, Mo.	BYL Bancorp Orange, Calif.	22-Jun	Pending	48,962	1.59	32.11	220	9	2,666,405	278,731
56	Hancock Holding Co. Gulfport, Miss.	Lamar Capital Corp. Purvis, Miss.	Jan. 31	29-Jun	47,379	1.29	16.65	155	9	3,013,430	415,495
57	Texas Regional Bancshares McAllen, Tex.	Riverway Holdings Inc. Houston	Sept. 17	Pending	47,297	1.49	10.56	92	1	2,501,672	677,022
58	Zions Bancorp. Salt Lake City	Minnequa Bancorp Inc. Pueblo, Colo.	10-Jul	Pending	43,574	1.87	17.66	191	5	23,487,799	319,920
59	Texas Financial Bancorp. Minneapolis	First National Bank of Texas Decatur	Jan. 26	30-May	43,493	1.61	10.22	111	7	2,503,360	335,011
60	FNB Corp. Christiansburg, Va.	Salem Community Bankshares Va.	Aug. 1	Pending	43,051	2.13	11.27	92	6	699,952	239,079
61	Northwest Bancorp Inc. Warren, Pa.	Leeds Federal Bankshares Baltimore	Aug. 16	Pending	42,968	2.89	13.74	38	2	3,852,831	378,500
62	Anchor BanCorp Wisconsin Inc. Madison, Wis.	Ledger Capital Corp. Glendale, Wis.	15-Jun	Pending	42,679	1.11	15.3	87	6	3,127,474	507,113
63	MB Financial Inc. Chicago	FSL Holdings Inc. South Holland, Ill.	Feb. 9	15-May	41,305	1.27	20.18	44	2	1,458,248	218,938
64	Investor Group Inverness, Ill.	First Bancorp of Durango Colo.	22-Jun	Sept. 19	40,911	1.77	12.91	94	5	NA	204,614
65	Hasten Bancshares Indianapolis, Ind.	Harrington Financial Group Richmond, Ind.	30-May	Pending	40,000	2.21	14.52	84	7	1,222,800	447,895
66	Promistar Financial Corp. Johnstown, Pa.	FNH Corp. Irwin, Pa.	Feb. 25	Aug. 13	39,868	1.27	18.87	111	11	2,070,338	303,798
67	Gaston Federal Bancorp Inc. Gastonia, N.C.	Innes Street Financial Corp. Salisbury, N.C.	16-Jul	Pending	37,935	1.36	31.14	40	1	265,854	215,223
68	Royal Bancshares of Pennsylvania Narberth, Pa.	Crusader Holding Co. Philadelphia	13-Mar	21-Jun	37,300	0.97	4.24	58	2	630,081	406,349
69	Whitney Holding Corp. New Orleans	Redstone Financial Inc. Houston	25-Jun	Pending	37,293	2.52	NA	80	6	6,769,959	192,904
70	GB&T Bancshares Inc. Gainesville, Ga.	Community Trust Finanical Services Hiram, Ga.	Feb. 2	29-Jun	37,049	2.16	32.1	65	6	355,856	156,549
71	Parkvale Financial Corp. Monroeville, Pa.	Second National Bank Masontown, Pa.	30-Jul	Pending	36,800	1.5	15.31	82	5	1,407,864	195,782
72	First Community Bancorp Rancho Santa Fe, Calif.	Pacific Western National Bank La Brea, Calif.	Aug. 22	Pending	36,633	1.84	17.02	81	5	619,670	233,131
73	First Banks Inc. St. Louis	Plains Financial Corp. Des Plaines, Ill.	Aug. 2	Pending	36,500	1.55	12.51	59	4	5,904,203	255,479
74	Pulaski Financial Corp.* St Louis	First Bancorp of Indiana Inc.* Evansville	Jan. 30	Terminated	35,924	0.98	27.84	49	4	279,034	173,580
75	First Financial Corp. Terre Haute, Ind.	Community Financial Corp. Olney, Ill.	30-Mar	Pending	33,562	1.05	NA	120	17	2,043,267	277,697
76	Regions Financial Corp. Birmingham, Ala.	First Bancshares of Texas Tomball	Aug. 13	Pending	32,755	2.5	26.22	79	6	45,139,089	169,253
77	Sterling Bancshares Inc. Houston	Lone Star Bancorp. Inc. Houston	1-Mar	Aug. 23	31,570	3.56	24.95	67	4	1,925,131	152,282
78	Camco Financial Corp. Cambridge, Ohio	Columbia Financial of Kentucky Inc. Fort Mitchell	5-Jun	Pending	30,171	1.03	53.76	36	7	1,032,595	108,354
79	Chemical Financial Corp. Midland, Mich.	Bank West Financial Corp. Grand Rapids, Mich.	1-May	Sept. 13	30,046	1.21	19.38	75	5	3,071,303	278,936
80	Business Bancorp** San Bernardino, Calif.	MCB Financial Corp.** San Rafael, Calif.	Aug. 15	Pending	29,789	1.96	8.35	58	6	340,113	226,280
81	Community First Banking Co. Carrollton, Ga.	First Deposit Bancshares Inc. Douglasville, Ga.	Jan. 18	23-May	29,670	1.18	19.8	49	3	394,506	141,422
82	First Merchants Corp. Muncie, Ind.	Francor Financial Inc. Wabash, Ind.	Feb. 9	1-Jul	29,179	1.59	13.03	65	7	1,621,063	164,961
83	National Mercantile Bancorp Los Angeles	South Bay Bank Torrance, Calif.	20-Jul	Pending	29,113	1.44	11.38	40	2	204,471	192,618
84	Bank of East Asia Limited New York	Grand National Bank Alhambra, Calif.	25-Apr	Pending	28,000	1.61	12.8	38	2	NA	140,450
85	Pocahontas Bancorp Inc. Pocahontas, Ark.	Walden/Smith Financial Group Inc. Jonesboro, Ark.	Jan. 4	14-May	27,919	1.78	NA	67	8	383,964	162,608
86	Trustmark Corp. Jackson, Miss.	Nashoba Bancshares Inc. Memphis	Sept. 7	Pending	27,550	2.18	12.89	41	3	7,157,029	177,226
87	First Federal Capital Corp. La Crosse, Wis.	American Community Bankshares Wausau, Wis.	23-May	Pending	27,423	2.08	15.88	26	3	2,410,145	143,306
88	Norway Bancorp Inc Norway, Maine	First Coastal Corp. Portland, Maine	2-Apr	Aug. 30	27,007	1.34	22.3	92	10	374,673	223,018
89	First Banks Inc. St. Louis	Union Financial Group Ltd. Swansea, Ill.	20-Jul	Pending	26,800	1.44	14.89	149	9	5,904,203	361,242
90	Second Bancorp Inc. Warren, Ohio	Commerce Exchange Corp. Beachwood, Ohio	23-Jul	Pending	26,500	2.11	14.66	34	3	1,578,370	119,225
91	Bannister Bank and Trust Co. Kansas City	Pembroke Bancshares Inc. Kansas City	Jan. 2	1-May	26,000	3.6	24.28	80	8	256,994	196,051
92	ABC Bancorp Moultrie, Ga.	Golden Isles Financial Holdings St. Simons Island, Ga.	Feb. 21	23-Jul	25,449	1.78	23.08	65	6	826,197	146,617
93	United Bancor Ltd. Dickinson, N.D.	Bismarck Bancshares Inc. N.D.	Aug. 31	Pending	24,000	1.93	15.37	62	4	123,441	162,426
94	United Community Financial Corp. Youngstown, Ohio	Potters Financial Corp. East Liverpool, Ohio	Sept. 6	Pending	23,445	1.7	12.18	106	4	1,485,226	151,466
95	Danvers Bancorp Inc. Danvers, Mass.	RFS Bancorp Inc. Revere, Mass.	27-Apr	Sept. 26	20,776	1.86	37.21	37	3	485,424	153,678
96	Whitaker Bank Corp. of Ky. Lexington, Ky.	Citizens National Bank and Trust of Hazard Ky.	April 26	Pending	20,000	1.2	19.08	50	7	1,056,994	143,066
97	Three Rivers Bancorp Inc. Monroeville, Pa.	Pennsylvania Capital Bank Pittsburgh	Feb. 1	30-Jun	19,766	1.69	16.37	30	1	947,061	146,709
98	First Banks America Inc. Clayton, Mo.	Charter Pacific Bank Agoura Hills, Calif.	23-May	Pending	19,427	1.42	60.51	44	2	2,666,405	102,902
99	Umpqua Holdings Corp. Portland, Ore.	Linn-Benton Bank Albany, Ore.	Aug. 21	Pending	18,891	1.95	13.21	50	5	826,563	113,630
100	Union Community Bancorp Crawfordsville, Ind.	Montgomery Financial Corp. Crawfordsville, Ind.	July 24	Pending	18,508	1.08	48.34	45	5	127,355	136,855
	Totals and averages for the top 100				$49,848,267	1.89	20.25	76,718	3,476		$279,217,712